Strategic management

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StrategicManagement NeilRitson Downloadfreebooksat  Neil Ritson Strategic Management Download free eBooks at bookboon.com  Strategic Management 2nd edition © 2013 Neil Ritson & bookboon.com ISBN 978-87-403-0506-7 Download free eBooks at bookboon.com Deloitte & Touche LLP and affiliated entities Strategic Management Contents Contents 1Introduction Why Strategy? The Formulation of Strategy Schools of strategy 11 Levels of strategy 13 Process of strategy Types of Strategy Stakeholder theory 360° thinking 360° thinking 16 24 29 360° thinking Discover the truth at www.deloitte.ca/careers © Deloitte & Touche LLP and affiliated entities Discover the truth at www.deloitte.ca/careers Download free eBooks at bookboon.com © Deloitte & Touche LLP and affiliated entities Discover the truth at www.deloitte.ca/careers Click on the ad to read more © Deloitte & Touche LLP and affiliated entities Dis Strategic Management Contents External Analysis 33 10 Internal Analysis 39 11Integration 44 12Human resources management HRM 47 13Culture 51 14 SWOT Analysis 63 15 Generic Strategy 66 16 Managing change 72 17 Growth and Decline 81 Increase your impact with MSM Executive Education For almost 60 years Maastricht School of Management has been enhancing the management capacity of professionals and organizations around the world through state-of-the-art management education Our broad range of Open Enrollment Executive Programs offers you a unique interactive, stimulating and multicultural learning experience Be prepared for tomorrow’s management challenges and apply today For more information, visit www.msm.nl or contact us at +31 43 38 70 808 or via admissions@msm.nl For more information, visit www.msm.nl or contact us at +31 43 38 70 808 the globally networked management school or via admissions@msm.nl Executive Education-170x115-B2.indd Download free eBooks at bookboon.com 18-08-11 15:13 Click on the ad to read more Strategic Management Contents 18Globalization and International Strategy 90 19 98 The Basis of Strategy: Structure 20References 113 GOT-THE-ENERGY-TO-LEAD.COM We believe that energy suppliers should be renewable, too We are therefore looking for enthusiastic new colleagues with plenty of ideas who want to join RWE in changing the world Visit us online to find out what we are offering and how we are working together to ensure the energy of the future Download free eBooks at bookboon.com Click on the ad to read more Strategic Management Introduction 1Introduction This compendium provides a comprehensive overview of the most important topics covered in a strategict course at the Bachelor, Masters or MBA level The intention is to supplement renowned strategy textbooks This compendium is designed such that it follows the structure of a typical strategy course Throughout this compendium theory is supplemented with examples and illustrations Download free eBooks at bookboon.com Strategic Management Why Strategy? Why Strategy? In ancient Greek, ‘stratos’ was the term for the army and so in military terms, ‘strategy’ referred to ‘the act of the general’ So, the origins of ‘strategy’ – the ‘art of the general’ – comes from the military arena – from China came “The Art of War” by Sun Tzu, from Prussia came “On War’ by Carl von Clausewitz In recent times the defeat of the Nazi regime in Germany was arguably due to a dire strategy by the leader of fighting a war on two fronts – West (USA, UK) and East (Russia) – so while the armed forces were highly skilled and had technological superiority the strategy was a huge mistake Strategy nowadays is ‘big stuff ’ – the top levels of the organisation are generally involved in preparing plans for the future – for finance, and growth by acquisitions, innovation in products, developing new markets and increasing internal efficiency The recent rise of Apple is due to a combination of these factors Download free eBooks at bookboon.com Strategic Management The Formulation of Strategy The Formulation of Strategy Introduction There is a need in modern times for strategies to achieve agreed goals and objectives, giving a sense of purpose and direction to the organisation, because of recent technological and social changes and competition from rival organisations So a strategy is some sort of future plan of action, usually understood as being undertaken by senior management at a high level of abstraction Note this is not always the best definition of strategy, as we will see later when we discuss levels of strategy Different Definitions A strategy is “The art of war*, especially the planning of movements of troops and ships etc., into favourable positions; plan of action or policy in business or politics etc.” (Oxford Pocket Dictionary) We don’t usually use dictionaries in academic work – but this is the history of the word *You can refer to The Art of War by Sun Tzu Here are some alternative definitions: Hofer and Schendel define it as “the mediating force or ‘match’ between the organisation and the environment.” (Hofer and Schendel 1979) Alfred Chandler Jr suggests: “the determination of the basic-long term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals” Chandler (1962) (Alfred Chandler Jr is one of the most famous researchers in strategy) Porter relates strategy to the success or failure of a company “obtaining a competitive position or series of competitive positions that lead to superior and sustainable financial performance” Michael E Porter (1991) (Porter is even more famous than Chandler now – see “Positioning School” later) Download free eBooks at bookboon.com Strategic Management The Formulation of Strategy Quinn stresses integration: “the pattern or plan that integrates an organization’s major goals, policies and action sequences into a cohesive whole…strategy helps marshal and allocate an organization’s resources into a unique and viable posture.” James Brian Quinn, Strategies for Change: Logical Incrementalism (1980) Andrews stresses the “raison d’être”, the reason for being: “the pattern of objectives, purposes, or goals and the major policies and plans for achieving these goals, stated in such a way as to define what business the company is in or is to be in and the kind of company it is or is to be.” Kenneth Andrews, The Concept of Corporate Strategy (1971) Walt Disney’s Peter Pan • Lost Boy: “Injuns! Let’s go get ’em!” • John Darling: “Hold on a minute First we must have a strategy.” • Lost Boy: “Uhh? What’s a strategy?” • John Darling: “It’s, er…It’s a plan of attack.” – (from Grant 2004) (Robert Grant is famous for the “Resource-based school” and for his work on the oil industry He quotes Peter Pan in a lighter vein!) Mintzberg and Waters (1985) suggested there are several major ways to look at strategy, and identified nine types of strategy Mintzberg and others increased these by one to 10 in later books We don’t need to bother about them now However, a major distinction Mintzberg and Waters made is that strategies can ‘emerge’ over time by a series of actions which are related by some internal managerial culture or paradigm This is not about strategy being flexible, but invisible! This is discussed later Download free eBooks at bookboon.com 10 Strategic Management The Basis of Strategy: Structure Ownership • public sector • private sector • The private versus public ownership: • Privately-owned many Virgin companies are not publically quoted on stock exchanges so Branson keep the details to himself as to whether they are making money • Publically quoted share ownership distribution – private versus institutional shareholders – types of share – debentures, voting shares ordinary shares Complex Facebook founder has 25% of shares but 57% of voting shares Other types include Cooperatives and Trusts Internal Structure Definition: ‘Structure’ is the allocation and control of work tasks This implies power relationships based on the acceptance of managerial power by subordinates and society – this use of power is termed the ‘legitimacy’ of management – which Max Weber called its ‘authority’ All organisations have some form of structure, based on ‘the established pattern of relationships among the individuals, groups and departments within it’ There are two structures – a vertical structure of authority and responsibility where clear limits of financial authority exist, and a horizontal structure of groupings of activities designed to use the resources towards goal-attainment The horizontal structure can be changed from time to time, to suit the environment (see later sections on the internal and external environments) The basic vertical structure of an organisation is a relatively static framework within which processes such as communication, leadership and decision-making take place In most organizations, structure will be illustrated in the form of a chart Download free eBooks at bookboon.com 103 Strategic Management The Basis of Strategy: Structure Functional Structure This is the most common form of structure This divides the organisation up into its main activities or functions (production, sales, accounting and so on) in which all similar specialist activities are grouped together into interdependent departments A manager is placed in charge of each function under the overall control of the owner or a senior manager Advantages of a functional structure • Specialised resources are used efficiently • Quality is enhanced by other specialists from the same functional area • Opportunities exist for extensive division of labour • A career structure enables people to advance within their functional specialism • It is easier to manage specialists if they are grouped together, especially when the manager has the same experience • It fosters communication between specialists and enhances the development of skill and knowledge • It does not duplicate specialist resources throughout the organisation and promotes economies of scale • It is suited to conditions which stress functional specialism, where the environment is stable, and when the technology is routine, requiring little interdependence between departments Turning a challenge into a learning curve Just another day at the office for a high performer Accenture Boot Camp – your toughest test yet Choose Accenture for a career where the variety of opportunities and challenges allows you to make a difference every day A place where you can develop your potential and grow professionally, working alongside talented colleagues The only place where you can learn from our unrivalled experience, while helping our global clients achieve high performance If this is your idea of a typical working day, then Accenture is the place to be It all starts at Boot Camp It’s 48 hours that will stimulate your mind and enhance your career prospects You’ll spend time with other students, top Accenture Consultants and special guests An inspirational two days packed with intellectual challenges and activities designed to let you discover what it really means to be a high performer in business We can’t tell you everything about Boot Camp, but expect a fast-paced, exhilarating and intense learning experience It could be your toughest test yet, which is exactly what will make it your biggest opportunity Find out more and apply online Visit accenture.com/bootcamp Download free eBooks at bookboon.com 104 Click on the ad to read more Strategic Management The Basis of Strategy: Structure Figure 2.3.1? Functional structure Disadvantages of a functional structure Increased need for interdepartmental co-ordination and scheduling • Communication, co-ordination overload the vertical hierarchy • Inefficient co-ordination of functional departments • Responsibility for overall outcomes is unclear • Interdepartmental conflicts • Little creativity and innovation • Difficulties in identifying profitable and unprofitable products These problems are likely to occur with professionalism and a role culture where job demarcations are felt to be important When the organisation reaches a certain size, they are likely to be exacerbated especially if it has developed a wide range of products or services Burns and Stalker (1961) devised the term ‘mechanistic’ for firms where the interconnections are strong as they are unsuited to changeable environments and non-routine technologies A more flexible and responsive form is needed than the rigidly functional by adopting a holding company or a divisional structure in which profit centres based on particular products or geographical areas are created Download free eBooks at bookboon.com 105 Strategic Management The Basis of Strategy: Structure Divisional structure A divisional structure (see Figure 2.2) can help to overcome the limitations of the holding company and/ or a functional structure, as it contains within it functional specialists but groups its activities around products or geographical regions These two ways of grouping activities are supposed to ensure a closeness to the customer which is not really possible in a functional structure Advantages of divisionalisation • It provides excellent co-ordination across functional departments • Since departmental units are often small, as well as self-contained, employees identify with the product or project rather than their own function • Since each division can, for example, react to customer requirements, it is well suited to changeable environments It is particularly useful for large organisations Cellular manufacturing can even be considered a kind of internal divisionalisation with an emphasis on internal customers, just-in-time links between different ‘products’ and the dynamism created through teamwork The emphasis on profit centres, should promote clear accountability, longer planning horizons, and the development of future senior executives with general management experience as divisional leaders Example: Sloan (1985) developed a true divisional structure for the disparate firms owned by General Motors Corporation in the 1930s, bringing together a central function to garner expertise from the different firms such as Pontiac, Cadillac and Chevrolet GM ‘leap-frogged’ over Ford, who had a functional structure, and has kept its lead ever since Disadvantages of divisionalisation • There may be a costly duplication of resources across departments • Specialists may become isolated and fail to further their specialist skills • Competing demands on people may create stress • Co-ordination across divisions is difficult Tension between the centre and divisions is a crucial problem of control Too much control stifles innovation Divisional CEOs gain too much power and can introduce wild excesses of spending on favoured ‘pet’ projects Example: in Rolls Royce the RB211 engine project overruns nearly bankrupted the company Download free eBooks at bookboon.com 106 Strategic Management The Basis of Strategy: Structure Product Divisions People and resources are grouped according to an organisation’s products General Motors has specific products – Chevrolet, Cadillac, Pontiac This enables technical excellence and concentration on fewer product lines, and a liaison with a smaller set of customers, realising more creativity in marketing and sales through focus, teamwork and goal consensus This format is used most successfully where there is a variety of products, each addressing different markets The Wake the only emission we want to leave behind QYURGGF 'PIKPGU /GFKWOURGGF 'PIKPGU 6WTDQEJCTIGTU 2TQRGNNGTU 2TQRWNUKQP 2CEMCIGU 2TKOG5GTX 6JG FGUKIP QH GEQHTKGPFN[ OCTKPG RQYGT CPF RTQRWNUKQP UQNWVKQPU KU ETWEKCN HQT /#0 &KGUGN 6WTDQ 2QYGT EQORGVGPEKGU CTG QHHGTGF YKVJ VJG YQTNFoU NCTIGUV GPIKPG RTQITCOOG s JCXKPI QWVRWVU URCPPKPI HTQO  VQ  M9 RGT GPIKPG )GV WR HTQPV (KPF QWV OQTG CV YYYOCPFKGUGNVWTDQEQO Download free eBooks at bookboon.com 107 Click on the ad to read more Strategic Management The Basis of Strategy: Structure Figure 20.2 Divisional structures Geographical Divisions Where organisations have few products, such as IBM, they may group activities according to sales area and be literally closer to the customer This enables regional differences to appear in marketing research In this way IBM gets to know the details of the businesses in an area and its sales team focus on local contacts e.g meeting senior people from potential clients informally at the golf club or racetrack Matrix structure Divisionalisation may eventually have to be adapted to include formal mechanisms to promote closer inter-divisional collaboration: the result will be a matrix structure in which vertical and horizontal formal relationships are recognised A matrix structure seeks to add flexibility and lateral co-ordination to the traditional vertical hierarchy One way of doing this is to create project teams made up of members drawn from a variety of different functions or divisions: each individual then has a dual role, as he or she maintains functional/divisional responsibilities as well as membership of the project team Download free eBooks at bookboon.com 108 Strategic Management The Basis of Strategy: Structure Example: US President John F Kennedy demanded ‘a man on the moon within ten years’ The achievement of this goal was apparently due to the new structure NASA adopted to link the functional specialists in the background departments intimately with the problem-solvers on the construction and research and development team for the Apollo mission This mixture became known as a ‘matrix’ Figure 2.3 Advantages of a Matrix: • improves decision-making by bringing a wide range of expertise to problems that cut across departmental or divisional boundaries; • replaces formal control by direct contact; • assists in the development of managers by exposing them to company-wide problems and decisions; • improves lateral communication and co-operation between specialists • suits rapidly changing environments because the equal balance of power between functional and product management aids communication and co-ordination • facilitates adaptation to unfamiliar and unexpected problems People can be flexibly relocated across products or projects, aiding the speedy implementation of new ones Employees have the opportunity to develop either functional or general management skills • it is useful for medium-sized organisations with a medium number of products or for taskcentred organisations Download free eBooks at bookboon.com 109 Strategic Management The Basis of Strategy: Structure Disadvantages of a Matrix: • A lack of clear responsibility; • Clashes of priority between product and function; • Functions lose control of the psychological contract; • Career development can often be stymied; • Difficult for one specialist to appraise performance of another discipline in multi-skilled teams; • Project managers are reluctant to impose authority as they may be subordinates in a later project; • Employees may be confused by reporting to two bosses; • Managers will need to be able to resolve interpersonal frictions and may need training in human relations skills; • Managers spend a great deal of time in meetings to prioritise tasks • The complexity of the matrix structure makes it difficult to implement successfully Indeed some commentators are very critical of this form of organisation, and question whether it should be adopted at all Brain power By 2020, wind could provide one-tenth of our planet’s electricity needs Already today, SKF’s innovative knowhow is crucial to running a large proportion of the world’s wind turbines Up to 25 % of the generating costs relate to maintenance These can be reduced dramatically thanks to our systems for on-line condition monitoring and automatic lubrication We help make it more economical to create cleaner, cheaper energy out of thin air By sharing our experience, expertise, and creativity, industries can boost performance beyond expectations Therefore we need the best employees who can meet this challenge! The Power of Knowledge Engineering Plug into The Power of Knowledge Engineering Visit us at www.skf.com/knowledge Download free eBooks at bookboon.com 110 Click on the ad to read more Strategic Management The Basis of Strategy: Structure Complex forms of organisation Definition: The complex forms attempt to overcome the inadequacies of other structures through collaboration between existing organisations Explanation Why? These pressures are essentially economic and in response to Japanese and Pacific Rim, Chinese and Indian penetration of Western markets At the same time globalisation means that scale economies are necessary to maintain price differentials and so mergers of parts of businesses where there is strategic fit is becoming commonplace How? Increasingly organisations are forming complicated vertical and horizontal relationships through demergers, downsizing, delayering and margin retreat from product scope and geographical spread What? Such organisations would range from co-operatives between organisations and their suppliers, to all forms of partnerships and alliances in which co-ordination of resources was based on co-operation between the parties concerned Mergers are a form of complex organization often defensive in nature Mergers are increasingly common – such as the recent spate of financial institutions’ mergers following the credit crunch of 2007/8 Joint ventures should mean that each sponsoring organisation has a degree of equity participation, while partnerships may not, and may or may not share assets Consortia are short-term legal entities with sunk costs from each of the partners and which terminate at the end of the project Alliance is a term used for a weaker non-legal-entity kind of operation where firms simply contract to work together on a gain-share/pain-share basis Termination clauses would vary with the nature of the co-operation, as would sharing of facilities and the purchase of equipment Example: Various partnerships exist in the automotive industry – Renault engines in Volvo cars Networks have been described as a link between supplier and purchaser in the supply chain but a more accurate and useful division is between different suppliers, imitating the co-ordination methods employed within the firms Download free eBooks at bookboon.com 111 Strategic Management The Basis of Strategy: Structure Example: In Italy experiments have been made to introduce networks in technologically similar industries in areas called ‘business districts’ in the textile industry, contractors are based in the same region, work for several different firms, sometimes in alliances or partnerships with other contracts, sometimes as sole contract-holder Technology transfer opportunities arise for the major textile firms as contractors learn the businesses of other firms The Flexible firm model Atkinson’s (1984) Flexible Firm Model was entitled ‘Manpower strategies for flexible organisations’ and specified three types of flexibility and a diagram illustrating the most important two types – functional and numerical Functional flexibility – was flexibility over tasks – staff capable of doing different things – core employees were well-trained and valuable Numerical flexibility – comprised employees in a First Peripheral Group – internal workers who are expected to be flexible by adding to the numbers already there; Second Peripheral Group – became more important – it involved part-time, temporary, jobshare, government schemes – external additions; subcontractors, agency temps; self-employment Financial Flexibility – performance related pay, bonuses (lump sums) commission (rate or %) Download free eBooks at bookboon.com 112 Click on the ad to read more Strategic Management References 20References Adler N pp 7–8; in Daft R Organisational Theory and Design 6th Edition p 259 Andrews, KR 1971 The concept of corporate strategy Irwin NY: Dow-Jones Ansoff, HI 1965 Corporate Strategy – an analytic approach to business policy for growth and expansion Boston: McGraw-Hill Argyris C, Schon D 1996 The Learning Company: A Strategy for Sustainable Development McGraw Hill: New York Atkinson J 1984 Manpower Strategies For Flexible Organisations Personnel Management 16 28 3rd August pp 28–31 Barney J 1991 Firm resources and sustained competitive advantage Journal Of Management 17, 1, 99–120 Beckhard R 1969 Organisational Development: Strategies and Models Addison-Wesley: Reading, MA Brunsson N, Olsen J 1993 The Reforming Organisation Making Sense of Administrative Change Thomson Learning: London Burns, T and Stalker, GM (1961), The Management of Innovation London: Tavistock Chandler AJ 1962 Strategy and structure: chapters in the history of the American industrial enterprise Cambridge Mass MIT Press Clausewitz C Von On War (Translated by Howard M and Paret P) Oxford: Oxford University Press Cummings T, and Huse E 1989 Organisational Development and Change London: Macmillan Daft, R (1998), Organizational Theory and Design New York: West Publishing Deal T and Kennedy A (1982) Corporate Cultures : The Rites and Rituals of Corporate Life Harmondsworth: Penguin Books Fortune/Mission-http://www.missionstatements.com/fortune_500_mission_statements.html Download free eBooks at bookboon.com 113 Strategic Management References Gibb H (2000) Theory of Constraints Bandolier Journal www.ox.ac.uk/bandolier Goldratt E, Cox J (1992) The Goal Macmillan Press: London Goldratt E (2000) Goldratt Institute Workbook Goldratt E (2003) Goldratt Institute Workbook Goldratt Institute (1996) The TOC Way www goldratt.co.uk Goldratt Institute (2001a) www goldratt.co.uk Goldratt Institute (2001b) TOC for Education www.goldratt.co.uk Grant, RM (1995, 1998, 2004, 2008), Contemporary Strategy Analysis Oxford: Blackwell Greiner, L 1972 Evolution and Revolution as Organisations Grow Harvard Business Review, 50, pp 37–46 Guest DE Michie J Sheehan M and Conway N 2000a Employment relations, HRM and business performance; an analysis of the 1998 Workplace Employee Relations Survey London CIPD Guest DE Michie J Sheehan M Conway N and Metochi M 2000b Effective people management: initial findings of the Future of Work study London CIPD Johnson G and Scholes K 2002 Exploring corporate strategy London Prentice Hall Harrison R (1972) Understanding Your Organisation’s Character Harvard Business Review 50 (23) 119–123) Hofer CW and Schendel D (1979) Strategy formulation: analytical concepts St Paul: West Hofstede, G (1997) Cultures & organisations: software of the mind Second edition McGraw-Hill Johnson G and Scholes K (2002) Exploring corporate strategy London Prentice Hall Kotter JP and Schlesinger LA 1979 Choosing Strategies For Change Harvard Business Review March / April Also in Mayon-White B (Ed) Planning and Managing Change Paul Chapman/OU 1986 pp 160–172 Legge K (1995) HRM Rhetoric and realities London Macmillan Download free eBooks at bookboon.com 114 Strategic Management References Lewin K (1951) Field theory in social science: selected theoretical papers Harper: New York Lindblom, CE (1959) The Science of Muddling Through Public Administration Review, 79–88 Marchington M and Wilkinson A (2002) People Management and Development London CIPD Mintzberg H (1994) The Rise and Fall Of Strategic Planning Hemel Hempstead: Prentice Hall Mintzberg H 1990 The design school, reorienting the basic premises of strategy Strategic Management Journal XI: 171–195 Mintzberg, H (1987), Crafting Strategy Harvard Business Review, 65:4, pp 44–55 Mintzberg, H and Waters, JA (1985) Of strategies deliberate and emergent Strategic Management Journal, 6:3, pp 257–272 Morgan G (1986, 1997) Images of organisation London: Sage Newbold Adams R (1988) The Eight Day Social Evolution as the Self-organisation of Energy University of Texas Press: Texas Ouchi W 1981 Theory Z: How American Business can meet the Japanese Challenge Reading Mass: Addison-Wesley Perlmutter HV 1969 The tortuous evolution of the multinational corporation Columbia Journal of World Business 4, 1, 9–18 Peters, T and Waterman, R (1982), In Search of Excellence New York: Harper and Row Peters T (1987) Thriving on Chaos: A Handbook for a Management Revolution Knopf: New York Pettigrew AM, Whipp R (1991) Managing Change for Competitive Success ESRC Competitiveness Surveys Blackwell: Oxford Pettigrew AM (1985) The Awakening Giant: Continuity and Change in ICI Blackwell: Oxford Piore M and Sabel C (1984) The Second Industrial Divide: Possibilities For Prosperity New York: Basic Books Download free eBooks at bookboon.com 115 Strategic Management References Porter, ME (1979) How Competitive Forces Shape Strategy Harvard Business Review 57, (March–April) 137–145 Porter ME (1980) Competitive Strategy: Techniques For Analysing Industries and Competitors The Free Press Porter, ME (1985), Competitive Advantage: Creating and sustaining superior performance New York: Free Press Porter, ME (1990) The Competitive Advantage of Nations New York: Free Press Porter, ME (1991) Towards a Dynamic Theory of Strategy Strategic Management Journal, 12 (Winter Special Issue), 95–117 Prahalad CK and Hamel G, (1990) The Core competence of the Corporation Harvard Business Review issue 79–91 Quinn, JB (1980), Strategies for Change: Logical incrementalism Homewood, ILL: Irwin DO YOU WANT TO KNOW: What your staff really want? The top issues troubling them? How to retain your top staff FIND OUT NOW FOR FREE Download free eBooks at bookboon.com How to make staff assessments work for you & them, painlessly? Get your free trial Because happy staff get more done 116 Click on the ad to read more Strategic Management References Ritson N, and Waterfield N (2005) Managing change: the Theory of Constraints in the mental health service Strategic Change 14: 449–458 Schein, E 1985, Organizational Culture and Leadership, Oxford: Jossey-Bass Dowling PJ, Schuler RS, and Welch DE 1994 International Dimensions of Human Resource Management London: Wadsworth Publishing Company Sloan AP (1965) My Years With General Motors New York: McFadden-Bartell Stacey, R (1996) Complexity and Creativity in Organizations, Berrett-Koehler, San Francisco Storey J (1992) Developments in the Management of Human Resources, Oxford: Blackwell Sun Tzu The Art of War (1993) (trans Shibing, Y) Ware: Wordsworth Walton R 1985 From control to commitment in the workplace Harvard Business Review 63, March–April 76–84 Wiseman C (1988) Strategic Information Systems McGraw-Hill, New York Wood S (1988) HRM and performance International Journal of Management Reviews 1, 4, 367–413 Woodward J (1965) Industrial Organisation: Theory and Practice Oxford: Oxford University Press Download free eBooks at bookboon.com 117 ... Neil Ritson Strategic Management Download free eBooks at bookboon.com  Strategic Management 2nd edition © 2013 Neil Ritson & bookboon.com ISBN... turnover & absenteeism Download free eBooks at bookboon.com 15 Strategic Management Process of strategy Process of strategy Strategic management is the organised development of the resources of... 60 years Maastricht School of Management has been enhancing the management capacity of professionals and organizations around the world through state-of-the-art management education Our broad
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